5 Tips How To Create Lasting Wealth
Ability to Create Wealth Tip # 1
Earn more income. If you are professional for sure you can land a decent job. Because, as what
your parents input to your mind when you are in grade school. “To study well so that when you graduate in college you can have a stable and high paying job”. Well, now you have your goal you have a job. What else can you do to earn more income? Do you have a talent in writing? How about to share it on the web regarding your expertise and publish it for sale as an e-book? How about to invest in direct selling. How about internet marketing or being an affiliate to a solid company? Imagine, your sole capital is internet connection and computer. Joining is absolute free. No need for share capital, only your time and effort and you can do this during your spare time.
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Maintain your wealth, spend less than you earn and invest the difference Tip # 2
How to do this? Very simple by this formula:
Income minus your Expenses equal Savings. (NOTE: This is only applicable if you can control your expenses and if you are not always roaming on the mall and can’t find the four letter word “S A L E".)
How about this second formula?
Income minus your Savings equal Expenses.
I suggest to follow the second formula. May you ask me where to invest the difference of your income? How about to invest in time deposit? If you are not a risk taker it is better to invest it on the bank offering time deposit. Because it is safe and low risk.
Increase Your Wealth Tip # 3
Spend Less Than You Earn, Invest The Difference and Re- Invest Your Returns for Compounded Growth.
Here, comes in the power of compounding. There are banks offering 1 month tenure, 3 months tenure, 6 months tenure, 1 year tenure and so on……. Imagine your money grows if you reinvest the interest in the same vehicle or if you know the financial adviser always saying “Don’t put your eggs in one basket”. Find another vehicle you know to bring more wealth. Now let’s go to the next tip.
Protect Your Wealth Tip # 4
You are now wealthy because of your being honest in your business. For being money savvy and you cannot deny there comes a time you will become insecure. There are also crooks who like to earn money for any unjust reason. What is the rule of thumb? To protect your wealth. Find an asset protection company. Your wealth does not need to be hidden, just to be protected.
Enjoy Your Wealth Tip # 5
It is your freedom how to enjoy your wealth. If you enjoy sharing you wealth to the poorest of the poor in your community, fine. Maybe, you like to increase your tighting to your church and God to give in return to his never ending pouring blessing, very fine. The beauty of tithing is that by giving away a portion of what you can give it in a way that gives you joy.
Remember “Charity and personal force are the only investments.” Walt Whitman
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